IFSC Code of Bank Of India, Indira Gandhi Instof Devrese, Mumbai, Maharashtra- BKID0000102

The IFSC Code is a very important number used in India for digital banking and online money transfers that ensures seamless and accurate fund transfers. In case you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code to route your payment to the right branch. If you are searching for the IFSC Code of Bank Of India for its Indira Gandhi Instof Devrese branch in Mumbai, Mumbai, Maharashtra, this complete guide will provide you with detailed information.

The banking system in India has changed over the years, and today customers of Bank Of India located in Mumbai or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0000102. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.

Details of IFSC Code for Bank Of India, Indira Gandhi Instof Devrese, Mumbai

Here are the key points that are associated with the IFSC Code BKID0000102 of Bank Of India for its branch located in Mumbai, within the district of Mumbai in the state of Maharashtra.

These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Mumbai for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0000102 for the Indira Gandhi Instof Devrese branch of Bank Of India is vital.

What Is IFSC Code and Why Is It Important?

IFSC stands for Indian Financial System Code, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Indira Gandhi Instof Devrese, Mumbai, Maharashtra, is provided with a unique IFSC like BKID0000102 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It uniquely identifies the Bank Of India branch in Mumbai.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It avoids any errors or confusions between multiple branches of the same bank across different places like Mumbai and Mumbai.
• It reduces errors in fund transfers and improves accuracy.
• It allows sender banks to validate and confirm branch details before processing payments.

There are thousands of branches across Maharashtra and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Indira Gandhi Instof Devrese do not get mixed with another location.

Format of the IFSC Code BKID0000102

The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:

AAAA0CCCCCC

Here's the breakdown of this:

• First 4 characters (AAAA): Represent the bank code. For Bank Of India, these characters are the bank's short identifier.
• 5th character (0): Always zero which is reserved for future use.
• Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Indira Gandhi Instof Devrese in Mumbai.

For example, the IFSC Code BKID0000102 of Bank Of India for the Indira Gandhi Instof Devrese branch includes these elements, identifying the bank and the branch location in Mumbai and Maharashtra accurately.

How to Find IFSC Code for Bank Of India?

If you are looking for the IFSC Code BKID0000102 of Bank Of India for its Indira Gandhi Instof Devrese branch located in Mumbai, the following methods can help:

Cheque Book

The cheque book that is issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.

Passbook

Most of the banks, including Bank Of India branches in Mumbai and Mumbai, print the IFSC and MICR codes on the first page of the passbook.

Bank Website

You can visit the official website of Bank Of India and look for the branch locator section, then search for Indira Gandhi Instof Devrese or Mumbai to get the exact IFSC Code BKID0000102.

Mobile Banking App

If you use Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.

RBI Website

The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for Bank Of India and Mumbai, then it will provide you proper information.

How to Use IFSC Code BKID0000102 for Online Transfers?

Once you have the IFSC Code BKID0000102 for the Indira Gandhi Instof Devrese branch of Bank Of India in Mumbai, you can start with your fund transfers using any digital method:

NEFT

Add beneficiary details including the name, account number, and IFSC Code BKID0000102. Transfers are processed in batches. Suitable for personal and business payments.

RTGS

Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.

IMPS

Instant 24×7 transfers. You need the recipient's account details and Bank Of India IFSC Code BKID0000102.

Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for Bank Of India Indira Gandhi Instof Devrese in Mumbai, it can result in delayed or failed transactions.

Finding the MICR Code

MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of Bank Of India in Indira Gandhi Instof Devrese, here are some ways that you can get it:

• Check the bottom of your cheque leaf.
• Refer to the first page of your passbook.
• Visit the official Bank Of India website.
• Search the RBI portal.

If you know both IFSC and MICR codes, then it can help account holders in Mumbai manage online transfers as well as cheque clearances with ease.